Financial Management and Accounting for the Construction Industry

Financial Management and Accounting for the Construction Industry Industry is the ultimate reference guide that guide reader through the highly specialized construction industry accounting challenges. This is also a primary resource for CCIFP certification.

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Print Book:2 volumes, looseleaf, updated annually
ISBN: 9780820511535
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ISBN: 9781579110857
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ISBN: 9781579110857
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Written specifically for the construction industry by CFMA experts with years of hands-on experience and assembled by the expert LexisNexis editorial team, Financial Management and Accounting for the Construction Industry is a highly practical reference covering the topics vital to construction industry financial professionals. This 2-volume set covers topics including income recognition, planning for income taxes, and preparing bids and estimates, as well as dozens of examples, sample reports, detailed checklists and sample computations.

Inside you’ll find an extensive industry overview and thorough discussion and analysis by CFMA experts on

• Roles and Responsibilities of the Financial Manager
• Accounting and Reporting
• Income Recognition
• Cash Management
• Taxes
• Legal Matters
• Insurance
• Organizational Structure
• Risk Management
• Employee Benefits
• Budgeting & Planning
• IT, Industry Benchmarks, and More!

Expert advice is also included on legal issues, insurance, surety and government contracts, handling claims and change orders, and controlling contract and project costs. In addition, Financial Management and Accounting for the Construction Industry now includes discussions of IT control considerations, dispute resolution, M-Theory and Spheres of Influence, Immigration compliance, Bonus depreciation, qualified leasehold improvements, and IRC 179. It's a single source for issues in financial management in construction industry context.

This indispensable publication is updated annually and is a dependable source for the most current issues and analysis affecting the construction financial professional.

Also available as an eBook in either .mobi or .epub formats for your laptop, desktop, or mobile device eReader, and in the LexisNexis Tax Center.

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Table of contents


CHAPTER 1 Industry Overview

CHAPTER 2 Roles and Responsibilities of the Financial Manager

CHAPTER 3 Accounting and Reporting

CHAPTER 4 Income Recognition

CHAPTER 5 Overview of Independent Auditor's Role in Construction Auditing

CHAPTER 6 Legal Issues

CHAPTER 7 Alternative Dispute Resolution

CHAPTER 8 Government Contracts

CHAPTER 9 Joint Ventures

CHAPTER 10 Foreign Operations

CHAPTER 11 Privatization

CHAPTER 12 Valuation of a Closely Held Construction Company


CHAPTER 13 Budgeting and Planning

CHAPTER 14 Capital Budgeting

CHAPTER 15 Cash Management

CHAPTER 16 Estimating and Bidding: Costing and Pricing the Work

CHAPTER 17 Information Technology in the Construction Industry

CHAPTER 18 Activity-Based Costing: A Strategic Cost Management Tool for Construction Companies

CHAPTER 19 Benchmarking

CHAPTER 20 Banking: A Practical Guide for Contractors

CHAPTER 21 Total Quality Management

CHAPTER 22 Contract Costs and Project Control

CHAPTER 23 Project Management

CHAPTER 24 Change Orders, Claims, and Other Contract Changes

CHAPTER 25 Developing and Maintaining a Sound Base Pay Program

CHAPTER 26A Employee Benefits

CHAPTER 26B Immigration Compliance

CHAPTER 27 Risk Management and Insurance

CHAPTER 28 Surety

CHAPTER 29 Federal Income Taxation

CHAPTER 30 Federal Income Taxation--Cost Segregation and Depreciation Aspects for the Construction Industry

Appendix I: GLOSSARY